LLP Winding Up / Closure
📌 What is LLP Winding Up?
LLP winding up refers to the process of legally closing a Limited Liability Partnership (LLP) and removing it from the records of the Ministry of Corporate Affairs (MCA). Winding up may be voluntary or compulsory, depending on the circumstances.
Under the Limited Liability Partnership Act, 2008, LLPs are required to comply with Sections 53, 54, and 55 which govern voluntary winding up, closure due to insolvency, or dissolution by the Tribunal. Proper winding up ensures that the LLP’s liabilities are settled, assets are distributed among partners, and the entity is legally struck off.
📌 Why LLP Winding Up is Important
- Legal Compliance – Ensures closure is done in accordance with Sections 53, 54, and 55 of the LLP Act, 2008.
- Liability Settlement – Facilitates repayment of debts, loans, and liabilities to creditors.
- Asset Distribution – Properly distributes remaining assets among partners.
- Stakeholder Assurance – Provides confidence to creditors, partners, and regulatory authorities that closure is handled legally.
- Avoids Penalties – Prevents future legal complications or fines for non-compliance.
📌 Common Scenarios Requiring LLP Winding Up
- LLP is no longer operational or profitable.
- Partners mutually agree to dissolve the LLP voluntarily.
- Failure to comply with statutory requirements triggers Tribunal-ordered closure.
- Completion of project-based LLPs or temporary business structures.
📌 Our LLP Winding Up Services Include
✅ Board & Partner Approvals
- Drafting partner resolutions recommending voluntary winding up.
- Ensuring compliance with Section 53 for voluntary closure and Section 54 for Tribunal approvals if required.
✅ MCA Filings & Documentation
- Preparation and submission of Form 24 (Application for striking off the LLP) to the MCA portal.
- Compilation of necessary statutory documents, statements of assets & liabilities, and partner consent letters.
- Updating statutory registers and records to reflect closure.
✅ Compliance Advisory & Support
- Guidance on legal requirements, timelines, and approvals for LLP winding up.
- Assistance in settling liabilities, creditor approvals, and asset distribution.
- Support for resolving regulatory queries or notices from the MCA.
📌 Why Partner With Us
- CA & CS-backed team ensuring accurate and compliant LLP closure.
- Professional handling of resolutions, filings, and regulatory approvals.
- Support for voluntary and Tribunal-ordered winding up of LLPs.
- Transparent and efficient process ensuring statutory compliance and audit-ready closure records.
- Expert advice on partner obligations, asset distribution, and legal formalities.
📌 Our Commitment
We ensure that your LLP is wound up efficiently, legally, and in full compliance with the LLP Act, 2008. Our CA and CS-backed team manages the entire process—from partner approvals and statutory documentation to MCA filings and post-closure compliance—ensuring a seamless and legally recognized closure of your LLP.